Metal Implants And Medical Alloys Market Size To Grow Through Expansive Use Of Titanium Alloy In Implants
Market Overview:
Metal implants and medical alloys market has registered burgeoning growth in the recent decades due to the expanding geriatric population and rising number of accidents and injuries that are necessitating the use of implants. Bones in older people generally weaken giving rise to various problems such as low bone density and osteoporosis that can lead to increased bone fracture. They also tend to lose teeth which makes a strong case for dental metal implants. Estimates show that Metal Implants and Medical Alloys Market
which amassed a revenue of USD 10,310 million in 2018, is expected to register a CAGR of 9.1% over 2019-2025.
Metal implants are system-designed parts to provide internal support to biological tissues. They are widely used in joint replacements, dental implants, orthopedic fixation, and stents. Increased use of medical alloys is associated with an increased incidence of implant- related complications due to poor integration, inflammation, mechanical instability,necrosis, and infections, as well as prolonged pain and loss of function.
The worldwide increase in the number of traffic accidents and injuries, combined with the growing demand for minimally invasive surgical procedures, is expected to stimulate market growth during the evaluation period. In addition, the growth of the geriatric population, the increasing burden of lifestyle-related diseases, and the increasing technological progress of the devices should support market growth.
Competitive Landscape:
- Zimmer Biomet
- ATI Specialty Alloys & Components
- DePuy Synthes
- Aperam
- Materion Corporation
- Fort Wayne Metals Research Products Corp
- AMETEK Inc
- Wright Medical Group N.V.
- Royal DSM
- Supra Alloys
Segmentation:
- The metal implants and medical alloys market is segmented on the basis of material type, application and region.
- Depending on material type, metal implants and medical alloys market is further subdivided into titanium, cobalt-chromium, stainless steel and others.
- By application, metal implants and medical alloys market is subdivided into orthopedic, dental, craniofacial, neurological and cardiovascular.
- By region, metal implants and medical alloys market is segmented into Americas, Europe, Asia Pacific and MEA.
Regional Analysis:
The global metal implants and medical alloys market has been categorized on the basis of region into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Industry News:
Metal implants and medical alloys market is creating its own growth scope with technology improvements that can be achieved through collaborations as well. For instance, a recent exclusive global license has been signed between Sweden-based Bactiguard and U.S. based Zimmer Biomet in which innovative infection prevention technologies developed by Bactiguard will be used on orthopedic trauma implants of Zimmer Biomet. The agreement involves a payment of $3 million to Bactiguard at signing and an additional $2 million upon receiving clearances by U.S. regulatory bodies and post-commercialization royalties on net sales.